54 London Street, Norwich

INVESTMENT SUMMARY

  • Norwich is an affluent and historic cathedral city and the retailing and administrative centre for East Anglia and has a primary catchment population of 894,000 which is significantly above the PROMIS regional centre average and ranks the city 11th of the PROMIS centres.
  • Norwich has over 17,700 students, with University of East Anglia consistently ranked in the top 25 universities in the UK and 381 in the QS World University Rankings league table (QS Website).  Norwich University of the Arts is ranked No. 1 creative arts university outside London (NUA Website).
  • Norwich has been crowned the best place to live in the UK in The Sunday Times Best Places to Live guide (2026).
  • Norwich catchment is highly affluent and loyal with an over representation of ‘comfortable communities’ and ‘affluent achievers’. Tourism is worth an estimated £750 million every year and supports more than 13,000 jobs.
  • The property is let to Bryar Khadir t/a Mister Grooming Room at £25,000 pax on an FRI 15 year lease from 17 April 2019 expiring 16 April 2034.
  • Offers invited in excess of £300,000. A purchase at this level will reflect a net initial yield of approx. 8% after buyers costs.

LOCATION
Norwich is located approximately 43 miles north of Ipswich, 62 miles northeast of Cambridge and 100 miles northeast of London.

Norwich benefits from excellent road communications providing direct access to the A11 which connects it with Cambridge to the southwest and onto Junction 9 of the M11. The A140 provides access to the A14 and Ipswich to the south. The A14 also provides access to the M1 and M6.
Rail communications are provided from Norwich Railway Station with direct services to Cambridge and London Liverpool Street. The quickest journey times are approximately, 1 hour 11 minutes and 1 hour 38 minutes respectively.

Norwich International Airport is located approximately 3.5 miles to the north of the city and London Stansted Airport is located approximately 77 miles to the southwest.

The property occupies a prominent corner location on London Street, at its junction with Opie Street. London Street is a busy pedestrianised street which links Norwich Cathedral and the traditional business quarter with the heart of Norwich’s prime retail. It is a very prominent corner and is opposite The Cosy Club and Prestons Jewellers.

ACCOMMODATION
The property provides accommodation on ground floor, first floor, second floor and third floor. The approximate areas are as follows:-

Ground Floor:Sales370 sq ft34.3 sq m
 
First Floor:Ancillary370 sq ft34.3 sq m
 
 Second Floor:Staff/Office/WC334 sq ft31.0 sq m
Third Floor:Storage190 sq ft17.6 sq m

 

TENURE
Freehold.

LEASE
The property is let to Bryar Khadir t/a Mister Grooming Room on a full repairing and insuring lease for a term of 15 years from 17 April 2019, expiring on 16 April 2034 at a rent of £25,000 pax. with a final upward only rent review due from 17 April 2029.

RATEABLE VALUE
We understand from the Valuation Office Agency website that the property has a rating assessment of £17,500 with effect from 1 April 2026. Interested parties are advised to make their own enquiries.

EPC
The property has an EPC rating of E. Further details are available upon request.

VAT
The property is not elected for VAT.  VAT will not be charged on the sale.

PROPOSAL
Offers are invited in excess of £300,000 (Three Hundred Thousand Pounds) for the freehold of the property. A purchase at this level will reflect a net initial yield of approximately 8% after the buyer’s costs.

 

In accordance with Anti Money Laundering Legislation, the purchaser will be required to provide proof of identity and address to the selling agents prior to solicitors being instructed.

 

 

Francis Darrah for themselves and as Agents for the proposed Vendor(s) or Lessor(s) give notice: 1. That they do not make or give either in these particulars or in negotiations or otherwise any warranty or representation whatever in relation to the property. 2. Any plan attached to these particulars is for identification purposes only and all measurements are given as a guide and no liability can be accepted for errors arising therefrom. 3. The property being open to inspection any intended purchaser must satisfy himself as to the accuracy of these particulars and he will be deemed to have full knowledge thereof. 4. No liability can be accepted for any misstatement, omission or errors in these particulars. 5. These particulars do not constitute an offer or Contract or any part thereof.

 

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